Indian public policy think tank NITI Aayog's Chief Executive Officer (CEO), BVR Subrahmanyam, on Sunday, 25 May 2025, citing International Monetary Fund (IMF) data, said that India has overtaken Japan to become the world's fourth-largest economy. The official World Bank's data of gross domestic product (GDP) for 2023 marked India's position as the fifth-largest economy in the world.
“We are the fourth largest economy as I speak. We are a USD 4 trillion economy as I speak, and this is not my data. This is IMF data. India today is larger than Japan,” BVR Subrahmanyam told the media outlets at the 10th NITI Aayog Governing Council Meeting on Sunday.
Subrahmanyam also predicted that India may soon surpass Germany and become the third-largest economy in the world. “If we stick to, you know, what is being planned, what is being thought through, it's a matter of another 2, 2.5 to 3 years; we would become the third largest economy,” said the CEO.
List of Top 10 Economies (As per GDP in US$)
- United States: GDP (2023) at $27,720,709 million or over $27.720 trillion.
- China: GDP (2023) at $17,794,783 or over $17.794 trillion.
- Germany: GDP (2023) at $4,525,703 or over $4.525 trillion.
- Japan: GDP (2023) at $4,204,494 or over $4.204 trillion.
- India: GDP (2023) at $3,567,551 or over $3.567 trillion.
- United Kingdom: GDP (2023) at $3,380,854 or over $3.380 trillion.
- France: GDP (2023) at $3,051,831 or over $3.051 trillion.
- Italy: GDP (2023) at $2,300,941 or over $2.3 trillion.
- Brazil: GDP (2023) at $2,173,665 or over $2.173 trillion.
- Canada: GDP (2023) at $2,142,470 or over $2.142 trillion.
According to the World Bank data cited above, all the current GDP data is based on the year 2023 release. The data has not been updated further. However, the IMF released its World Economic Outlook report in April 2025, which expects India to surpass Japan to take over the fourth-largest economy spot in 2025.